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This article originally appeared on Credit.com and has been republished with permission.  You probably know that skipping bill payments can drop your credit score. The reverse is also true—paying your bills on time can positively impact your credit. But that’s only true when creditors or others report to the credit bureaus. Find out what bills help build your credit—or potentially harm your credit—below. What Bills Affect Credit Score? While it depends on the circumstance, all of the following bills could impact your credit score for better or worse. … Read more

Some households operate off one income by choice, while for others that is merely their circumstance. Regardless of how you found yourself in this position, a one-income household is not uncommon, and it’s certainly not unmanageable. Think about how you need that money to function and come up with a budget, and plan to execute it.  Without a budget, even a multi-income household might become financially unstable. One of the best money secrets of single-income households is that they know it’s less about the money that is coming … Read more

If you’re thinking about cleaning up your credit report by closing a credit card account you haven’t used for years, you might want to reconsider. Closing a credit card account can actually lower your credit score. How? It could potentially reduce the length of your credit history, especially if you’ve had the account for a long time, and it can reduce your available credit. Let’s break it down further. How Does Closing a Credit Card Hurt Your Credit Score? Your credit score is made up of several factors, and closing a … Read more

Do you have multiple credit cards? The average U.S. household has a credit card debt of $6,006. These figures may seem high or low depending on who you ask. However, if you’re someone who is having trouble making repayments, credit card interest can quickly become overwhelming. Credit card debt is often considered as a bad debt because it diminishes your wealth over time. Although, in the context of a balance transfer, this type of credit card can be an effective way to reduce your repayments. In this article, … Read more

The views and opinions expressed in this article are those of the author only and are not endorsed by Credit.com. Shopping for “needs” is one thing, but we all know how huge sales can convince us to stock up on “wants.” You know how it goes–you head to the store to pick up bread and milk only to come home with a new coffeemaker. It’s human nature to fall for a good deal, so you shouldn’t be too hard on yourself. Not surprisingly, the same story can apply … Read more